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Atos (CCC-) Receives Non-Binding Offer From French State; Credit Positive

TECHNOLOGY


  • Not much to add from the Atos update beyond the headlines though the progress is credit positive. Bonds look muted as this was likely expected given the strategic nature of the units and the political focus around Atos.
  • Atos have received a non-binding Atos received a non-binding offer from the French State for its Advanced Computing, Mission-Critical Systems, and Cybersecurity businesses, valued at an EV of EUR 700mn.
  • Discussions to follow, no guarantee of a final agreement.
  • Confirmed objective of implementing a dedicated accelerated restructuring procedure by July one definitive agreement reached.

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